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We conduct market research on the Kpop industry from time to time. Here we provide some of the statistics including key metrics such as market size, growth, major players’ market share and any significant trends shaping the Kpop industry.
Based on the search results, here are key statistics and trends shaping the K-pop industry:Market Size and Growth:
- The K-pop industry generated $10 billion in revenue in 2018.
- The K-pop events market alone was valued at $8.1 billion in 2021 and is estimated to reach $20 billion by 2031, growing at a CAGR of 7.3% from 2022 to 2031.
• The South Korean music industry achieved record-breaking sales revenue of approximately 11 trillion South Korean won in 2022.
• The export value of the South Korean music industry reached around $927.6 million in 2022.
Major Players and Market Share:
• SM Entertainment is the largest entertainment company in South Korea with revenues over $350 million.
• HYBE Corporation (BTS’s label) saw its yearly income increase by 41.6% year-over- year to 1.77 trillion South Korean won ($1.37 billion USD) in 2022.
• In 2022, BTS was the top-selling K-Pop artist in South Korea with 12.4% of total album sales, followed by Stray Kids, SEVENTEEN, and NCT DREAM.
Significant Trends:
1. Global expansion: K-pop is gaining worldwide popularity, with 89 million hallyu fans in 113 countries.
2. Digital dominance: K-pop category videos received approximately 40.9 billion views on YouTube in 2020.
3. Economic impact: BTS alone accounted for $4.9 billion of South Korea’s GDP in 2020.
4. Streaming growth: YouTube reports that K-pop consumption grew more than 100% year-over-year in 2020.
5. Diverse revenue streams: The industry generates income from music sales, concerts, merchandise, and collaborations with global brands.
- Young audience: Approximately 40% of K-pop fans are aged 10-19.
- International market penetration: 35% of K-pop album buyers in 2020 were from the
United States.
8. High return on investment: The rate of return for successful K-pop groups can be as high as 400%.
These statistics highlight the significant growth, global reach, and economic impact of the K- pop industry, as well as its potential for further expansion in international markets.
